Equity benchmarks BSE Sensex and NSE Nifty ended a tad lower on Thursday after a highly volatile session as June series derivative contracts expired.
The 30-share Sensex, which hit an intraday high and low of 39,817 and 39,633 during the day, settled 5.67 points down at 39,586. Likewise, the 50-share Nifty closed 6 points down at 11,841.
“We have Budget in the coming week and the focus has shifted to the policies of NDA 2.0. Monthly options data suggests Nifty will be in the 11,500-12,000 range in July,” said Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services.
Coffee Day gains 3%
Shares of Coffee Day Enterprises gained over 3 per cent after reports that beverage firm Coca-Cola is in talks to pick up a significant stake in the country’s largest coffee chain. The scrip closed 3.62 per cent higher at Rs 232.10.
Sugar stocks rally up to 20%
Sugar stocks rallied up to 20 per cent amid reports that the government plans to frame a new sugar export policy to reduce glut and address concerns of the depressed sugar industry. ETNow reported that the PMO will work with food ministry on a new sugar policy post Budget and may decide on rolling out an export-linked subsidy scheme for sugar mills. Shares of Rajshree Sugars closed 20 per cent higher at Rs 25.80 while Avadh Sugar rose 10 per cent and Simbhaoli Sugars 6.75 per cent.
131 stocks show potential for rise
Momentum indicator moving average convergence divergence, or MACD, showed bullish crossovers on 131 counters on BSE, signalling that these counters may witness buying interest in the coming sessions. Among them were Reliance Capital, Jet Airways, CG Power, Oil IndiaNSE -0.73 %, MTNL, LIC Housing and Titan Company. On the other hand, Sun TV Network, Astron Paper, BSE, United Breweries, Zensar Technologies, Emmbi Industries and Monte Carlo were among 16 stocks that showed bearish crossovers.
88 stocks hit 52-week lows
As many as 88 stocks, including Ashapura Intimates, Assam Company, Educomp, Cox & Kings, Diamond Power, Glenmark Pharma, La Opala and Khaitan Electricals hit 52-week lows on NSE. Meanwhile, REC, Titan, SRF, ICICI Bank, Titan, HDFC AMC, Bajaj FinservNSE 0.96 % and Bajaj Finance were among 25 stocks that hit 52-week highs.
Most traded stocks on NSE
With over 15 crore shares changing hands, Vodafone Idea emerged the most traded stock on NSE. It was followed by Suzlon Energy (number of shares traded: 13.92 crore), Reliance Infra (9.85 crore), Reliance Power (9.43 crore) and Reliance Capital (6.03 crore).
On the other hand, Axis Bank (Rs 1,472 crore) finished as the most active stock in terms of traded value, followed by Reliance IndustriesNSE -1.65 % (Rs 1,458 crore), HDFC BankNSE -0.75 % (Rs 1,228 crore), Indiabulls Housing Finance (Rs 1,072 crore) and State Bank of India (Rs 1,070 crore).
Stocks at upper circuits
Reliance Communications, Indiabulls Integrated Services and Manpasand Beverages stood among the group A stocks on BSE that hit upper circuits. Others included Mandhana, Ion Exchange, Emami Realty and Soril Infra.
Top losers of the day
Shares of Cox & Kings (down 10 per cent), IFCI (down 7 per cent), PC Jeweller (down 6 per cent), WockhardtNSE -0.31 % (down 5.73 per cent) and Jain Irrigation (down 5 per cent) were among the top losers on BSE.
Shriram City Union rallies 18%
Shares of Shriram City Union Finance rallied nearly 18 per cent amid reports of a bulk deal on the counter. The scrip settled 17.87 per cent higher at Rs 1,587.